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The government of Finland proposes to increase assistance to Ukraine

24 Nov, 2023
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The government of Finland proposes to increase assistance to Ukraine

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The government of Finland, on November 23, submitted a proposal to the parliament to amend the budget for 2024.

Among other things, the proposal includes amendments related to support for Ukraine.

Specifically, the proposal suggests increasing the maximum amount of authorization for the purchase of military equipment for the armed forces for the years 2024-2028 by 95.7 million euros. This increase will cover the cost of replacing equipment as part of the 19th package of material assistance provided to Ukraine. As a result, the budget expenditure for 2024 will increase by 20.7 million euros. Following this adjustment, the maximum authorized amount for purchases will be 1.451 billion euros.

Additionally, the government proposes increasing the capital of Finnfund by 25 million euros, which will be used for investments and loans focused on Ukraine.

The government also suggests parliament approval for compensating government structures for export guarantees provided to promote exports and investments in Ukraine, up to 50 million euros.

The Odessa Journal

The Odessa Journal

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